fuboTV Saw a 78% Increase in Revenue During Q1, Subscriber Loss of 28,000 From 2019




, ,

Today, live TV streaming platform fuboTV shared its Q1 2020 Shareholder Letter, based on financials from FaceBank Group, which acquired the streaming service in March. The letter includes “unaudited financial results and recent business updates” on fuboTV’s revenue and subscriber activity.

In Q1 of 2020, which ended on March 31, 2020, fuboTV saw revenues of $51 million, a 78% increase year over year. Revenue was driven by subscription revenue, which brought in $46.4 million. 

Subscriber numbers were at 287,316 by the end of the quarter, an increase of 37% year over year, but a 28,473 subscriber loss from the numbers reported for the end of 2019. fuboTV also noted an increase in time spent using the service. Monthly active users watched 120 hours per month on average for the quarter, an increase of 52% year over year.

“We believe fuboTV is at the forefront of the streaming revolution and has a significant advantage not only over peers in the vMVPD space but also over traditional cable television,” fuboTV CEO David Gandler wrote in the letter.

Gandler expressed an optimistic outlook going forward, despite the pandemic and subsequent lack of live sports, a category fuboTV is known for in the streaming space.

“fuboTV had an extremely productive Q1, despite a complete shutdown of sports, and we have made several significant recent announcements that highlight the competitive strength of our company and further differentiate us in the marketplace,” he wrote. “While we expect that the COVID-19 pandemic will have lasting effects on consumer behavior and live television viewing, vMVPDs are also a more affordable alternative to pay TV, which, we believe, in this current economic climate, further accelerates adoption. We believe we are well positioned as a leader in the industry.”

Did you know we have a YouTube Channel? Every week we have a live Cord Cutting Q&A, and weekly Cord Cutting recap shows exclusively on our YouTube Channel!

Please follow us on Facebook and Twitter for more news, tips, and reviews. Need cord cutting tech support? Join our Cord Cutting Tech Support Facebook Group for help.

Disclaimer: To address the growing use of ad blockers we now use affiliate links to sites like http://Amazon.com, streaming services, and others. Affiliate links help sites like Cord Cutters News, stay open. Affiliate links cost you nothing but help me support my family. We do not allow paid reviews on this site. As an Amazon Associate I earn from qualifying purchases.

Subscribe to Our Newsletter

* indicates required

Please select all the ways you would like to hear from :

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp’s privacy practices here.